Press release -
Quartiers Properties continues to increase its net asset value per ordinary share
The net asset value of Quartiers Properties, a property company with operations in Spain, continues to rise. The increase compared to year-end 2018 amounts to 11 percent, and the net asset value per ordinary share is now stated at SEK 8.26. The share is thus being traded at a net asset value discount of 48.7 percent, given the closing price on 27 February 2020.
Marcus Johansson Prakt, CEO of Quartiers Properties, comments on the company’s year-end report, which will be published on 28 February in the morning.
“In 2019, we continued to reinforce our net asset value, which now amounts to SEK 8.26 per ordinary share, noting growth of 11 percent compared to year-end 2018. The ongoing positive development of net asset value per ordinary share confirms that the measures we introduced during the year have continued to contribute to creating value for our shareholders. At the same time, we have paid MSEK 7 in dividends to our preference shareholders and maintained a stable share price in same. With ordinary shares currently being traded at a significant discount (46 percent) on their net asset value, we hope that even more investors will find our ordinary share interesting and choose to invest in the Company in 2020.”
Over the past year, the company opened its hotel and restaurant project Boho Club in Marbella, and successfully sold all the apartments in its 22byQuartiers project.
Topics
- Finance
Categories
- marcus johansson prakt
- nasdaq first north
- quartiers properties ab (publ)
- hacienda de cifuentes
- boho club
Quartiers Properties operates in Spain in the province of Málaga on the Costa del Sol, a market shown by a number of studies to be the fastest-growing property market in Spain. Growth in the region is due to a combination of increasing domestic demand, the region’s climate with over 320 days of sunshine a year, excellent national and international communications, and technological developments enabling more people to live in the region while retaining links to friends, family and work in their home country. Quartiers is active in two main segments; Property Value Creation and Property Development. Both business areas aim to generate value in the current property portfolio in different ways. In the Property Development segment this is done by developing carefully designed concepts for villas and apartments, which are then marketed and sold. The Property Value Creation segment focuses on transforming underperforming properties in a way that leverages each property’s unique characteristics, to enable a higher valuation when the property is either sold or revalued for refinancing on improved loan terms.
